ITOT vs SOXX: 16% overlap
iShares Core S&P Total U.S. Stock Market ETF and iShares Semiconductor ETF share 16.4% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
You would hold two tickers and get the diversification of 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ITOT and SOXX hold 24 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ITOT | in SOXX | Δ |
|---|---|---|---|
| NVDA | 7.0% | 8.3% | 1.2% |
| AVGO | 2.6% | 7.3% | 4.8% |
| MU | 1.6% | 8.5% | 7.0% |
| AMD | 1.2% | 8.7% | 7.5% |
| INTC | 0.7% | 5.3% | 4.6% |
| AMAT | 0.6% | 5.2% | 4.6% |
| LRCX | 0.6% | 4.2% | 3.6% |
| KLAC | 0.4% | 4.8% | 4.4% |
| TXN | 0.4% | 3.9% | 3.5% |
| ADI | 0.3% | 3.8% | 3.6% |
Where ITOT and SOXX differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | ITOT | SOXX | Δ |
|---|---|---|---|
| Information Technology | 35.2% | 99.9% | −64.7pp |
| Financials | 12.7% | 0.0% | +12.7pp |
| Industrials | 10.1% | 0.0% | +10.1pp |
| Health Care | 9.7% | 0.0% | +9.7pp |
| Consumer Discretionary | 8.8% | 0.0% | +8.8pp |
| Communication Services | 8.7% | 0.0% | +8.7pp |
| Consumer Staples | 4.4% | 0.0% | +4.4pp |
| Energy | 3.5% | 0.0% | +3.5pp |
Δ is ITOT minus SOXX, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
83.5% of ITOT by weight, held in no part of SOXX.
11.0% of SOXX by weight, held in no part of ITOT.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| ITOT | SOXX | |
|---|---|---|
| Top 10 holdings | 32.7% | 60.9% |
| Positions held | 2,440 | 32 |
| Cost per $10,000 held, per year | $3 | $34 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do ITOT and SOXX overlap?
ITOT and SOXX overlap 16.4% by portfolio weight — moderate overlap. They share 24 holdings. The figure comes from current issuer holdings files (ITOT as of 2026-07-23, SOXX as of 2026-07-23).
How is the overlap between ITOT and SOXX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If ITOT holds a stock at 6% and SOXX holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both ITOT and SOXX?
That depends on your goals — we state facts, not advice. At 16.4% overlap, each fund still contributes meaningfully distinct exposure.
What does ITOT own that SOXX doesn't?
ITOT holds 2,440 positions and SOXX holds 32; 2,415 of ITOT's positions don't appear in SOXX at all, and they are 83.5% of ITOT by weight.
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Related comparisons
Sources: issuer holdings files, ITOT as of 2026-07-23, SOXX as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.